Daily News

View All News

Germany – The Adecco Group Germany to acquire 51% stake in LOGworks GmbH

29 November 2018

The Adecco Group Germany announced that it will acquire 51% of the shares in the personnel service provider LOGworks GmbH in Germany.

LOGworks was previously a wholly-owned subsidiary of LGI Logistics Group International GmbH in Germany, a supply chain management company involved mainly in industrial contract logistics and transport logistics. LOGworks offers services in employee leasing, MSP (managed services provider), direct hire, as well as master vendor services.

As part of the acquisition, the Adecco Group will enter into a strategic partnership with LGI resulting in LOGworks operating as a joint venture in the future.

Adecco Group Germany and its general staffing brand “Adecco Personaldienstleistungen” (Adecco Personnel Services) said it will use the joint venture to strengthen its position in the growing logistics segment.

In the medium term, new deployment and development opportunities will arise for employees, according to the Adecco Group Germany.

The transaction is subject to approval by the German Federal Cartel Office (competition authority) and is expected to be completed in the fourth quarter 2018. The transaction will have a minor positive effect on the result and the cash flow and only a minor effect on the net sales.

LGI is a subsidiary of Swedish printing company Elanders.

Comments

Add New Comment

Post comment

NOTE: Links will not be clickable.